[2014-04-26] DT: You can now buy a debit card you can load with your Bitcoins

[bryant.coleman]

http://www.digitaltrends.com/mobile/xapo-announces-debit-card-pays-bitcoins/

Bitcoin has made waves since spiking in value last year, but despite the hype it’s difficult to pay for anything with the cryptocurrency. While you can pay with a flick of the wrist using some new technology, so far it still requires that the person that you’re paying accepts Bitcoins in the first place. Xapo wants to change that. It’s offering pre-orders for a new debit card that can use your Bitcoins anywhere MasterCard is accepted, and the merchant will be paid in U.S. Dollars.

[pekv2]

This will be cool if there are no interest fees like credit cards. Let it flow to be easier to use BTC.

[bitbouillion]

This will be cool if there are no interest fees like credit cards. Let it flow to be easier to use BTC.

It says it's a debit card, so there is no interest. There is a cap on fee of 21 cents per swipe.




 

[pekv2]

This will be cool if there are no interest fees like credit cards. Let it flow to be easier to use BTC.

It says it's a debit card, so there is no interest. There is a cap on fee of 21 cents per swipe.
 

Ah, nice catch. Then I wonder even if you need a bank account to use this, or just something like paypal. Somehow you gotta buy BTC > debit card.

[bryant.coleman]

It says it's a debit card, so there is no interest. There is a cap on fee of 21 cents per swipe.

Yes. And the cards are not available yet. They are planning to make them available by this July. However, there is a pre-order option, if anyone wants to apply for the Xapo Bitcoin debit card:

https://xapo.com/in/campaign/debit/

[BurtW]

Isn't this the same thing (and available today)?

https://bitplastic.com

[pekv2]

Isn't this the same thing (and available today)?

https://bitplastic.com

Least this site allows you to use AES 256-bit encryption.

xapo.com won't let me connect because I have weak encryption disabled.

Thanks, burt, ima check these guys out, sign up, create an account and see what requirements there are.

[pekv2]

Isn't this the same thing (and available today)?

https://bitplastic.com

Least this site allows you to use AES 256-bit encryption.

xapo.com won't let me connect because I have weak encryption disabled.

Thanks, burt, ima check these guys out, sign up, create an account and see what requirements there are.

Yea fuck this place too.

We're sorry, but a potential security attack has been detected. Please use your browser's back button, and try your request again. Please be mindful of any special characters you're using, as they may be prohibited.

cant sign up.

I used generate passwords as for answers of secret questions in small letters.

pw said was strong for the account.

[pekv2]

Isn't this the same thing (and available today)?

https://bitplastic.com

Least this site allows you to use AES 256-bit encryption.

xapo.com won't let me connect because I have weak encryption disabled.

Thanks, burt, ima check these guys out, sign up, create an account and see what requirements there are.

Yea fuck this place too.

We're sorry, but a potential security attack has been detected. Please use your browser's back button, and try your request again. Please be mindful of any special characters you're using, as they may be prohibited.

cant sign up.

I used generate passwords as for answers of secret questions in small letters.

pw said was strong for the account.

ahha, I went to creat a support ticked LOLOLOL

We're sorry, but a potential security attack has been detected. Please use your browser's back button, and try your request again. Please be mindful of any special characters you're using, as they may be prohibited.

I suggest no one use this place, seems like a data mining company.

[bryant.coleman]

Least this site allows you to use AES 256-bit encryption.
xapo.com won't let me connect because I have weak encryption disabled.
Thanks, burt, ima check these guys out, sign up, create an account and see what requirements there are.

They have just started... so give them a little bit time. That said, I have to say that the Advanced Encryption Standard-256 is not 100.000% risk-free.  Government organizations such as NSA might be able to break them if they need. 

[keelba]

What is the point of all of this?

I buy Bitcoin so that I have control of my money, not some bank. I then give that Bitcoin to someone else to hold (thankfully not a regulated bank, just some new company I know nothing about). Now I can go buy things priced in dollars and pay from my Bitcoin balance sheet that someone else is holding for me.

I get the fact that there are very low fees but, guess what, I have to pre-pay for this card and earn no interest on my money while it is being held by someone else and, although the fees are small, they're still fees. This is actually not better than a traditional credit card because that card lets me borrow money (rather than lending it to them first) and if I pay it all back by the end of the month, I pay $0 in fees.

[minimalB]

AFAIK, when you swipe, your bitcoins are used directly. So you don't have to preload with USD or EUR in advance. You stay in btc until you swipe.

[keelba]

AFAIK, when you swipe, your bitcoins are used directly. So you don't have to preload with USD or EUR in advance. You stay in btc until you swipe.

How is that even possible? If this is true, and it's safe, then I suppose this is a good thing. I just don't see how this can be done. Can someone give more detail of how this works?

[bitbouillion]

How is that even possible? If this is true, and it's safe, then I suppose this is a good thing. I just don't see how this can be done. Can someone give more detail of how this works?

I guess your Xapo debit card is linked to a Xapo owned bank account and when you swipe your card, fiat is withdrawn from a Xapo bank account and deposited into the merchant's bank account. Xapo would then refill its bank account by selling bitcoins from your bitcoin account with Xapo.

[williamj2543]

I live in canada and have a cavirtex.com account, and there debit card is complete ass. It costs 1.50 per purchase, and 4$ a month

[omahapoker]

it will be easier to cash in your bitcoin soon.

[keelba]

it will be easier to cash in your bitcoin soon.

Aha! Now I get it. If you have a bunch of bitcoins you want to get rid of but don't want to go through some sort of exchange then this is one way to get rid of them. Of course you could just spend them at places that accept Bitcoin. But if you wanted to spend them elsewhere this would be one good way of doing that.

Other than this, I still haven't found a good reason for this card.

[counter]

If it is easier and safe to do this with not such a high fee then I consider this great news. 

[moriartybitcoin]

I live in canada and have a cavirtex.com account, and there debit card is complete ass. It costs 1.50 per purchase, and 4$ a month

CaVirtex itself is a complete joke. I loaded 0.5btc to my CaVirtex account last year, and they froze it (and cancelled my account) because I logged in via TOR. 

I can only imagine how bad their debit card is.

If you want a REAL bitcoin debit card that works EVERYWHERE in the world (not just for Canadians), then https://BitPlastic.com is what you need.